The Japanese company announced a base model now costs about $550. It previously cited Trump's tariffs as a reason for potential price increases.

Buying the latest-gen Sony console just got more expensive as the company just raised the price of PlayStation 5 consoles.

Sony has raised the price of its PlayStation 5 consoles being sold in the United States by $50. “Similar to many global businesses, we continue to navigate a challenging economic environment,” Sony Global Marketing Vice President Isabelle Tomatis wrote in a blog post.